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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Default Currency for m...
Small and medium business | Business Central, N...
Suggested Answer

Default Currency for my company

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Posted on by Peter Samir 446

Hi,

I am not able to find the British Pound 'GBP' into the currencies list. Should i add it manually??

Then, How to setup it as a default currency for my company? As, I tried to find this parameter into "Company Information" form but it wasn't there.

Thanks 

I have the same question (0)
  • Aaron Samuel Profile Picture
    Aaron Samuel 20 on at

    Hi Peter,

    In Business Central there is no setting your default currency or company currency.  The idea here is a LYC (or local currency) and then any exchanges is done to the currency amount.  

    So you need to assume no currency selected on all transactions and reports = local or default currency; selecting a currency = exchanged amount based on FX table.

    Thanks,

    Aaron

  • Suggested answer
    Teddy Herryanto (That NAV Guy) Profile Picture
    Teddy Herryanto (Th... 14,300 Super User 2026 Season 1 on at

    Blank, or we call it LCY (local currency) is basically your default currency. You can treat blank as GBP, USD, JPY, anything you want.

    If you want to add a different currency, you add it into your currency list manually.

  • Suggested answer
    gert@lynge.org Profile Picture
    gert@lynge.org 18 on at

    NO - PLEASE DO NOT CREATE IT!

    Please don't add your local currency to the currency list.

    If it is ever set on vendors/customers/banks, you post transactions and it has an exchange rate you will really mess up your books.

    It is very hard to clean up after such an error - so please NEVER add a local currency to the currencies list!!!

    Always us a blank/empty currency when you deal with local currency (LCY) and define which one it is on the General Ledger Setup page.

    Again: PLEASE NEVER ADD IT AS A CURRENCY! :-)

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